Having access to education is key to America’s future

By Tyler Olson

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President Obama visited the University of Iowa this week, fulfilling his commitment to young Americans to do all he can to keep student loan debt low. Keeping college affordable is a critical part of the president's blueprint for an economy that's built to last - one that prepares Americans for the jobs of the future, restores middle-class security, and rewards hard work and responsibility.

The president is speaking out about student loan interest rates because they are set to increase on July 1 unless Congress acts. The current rate of 3.4 percent was set by Congress in 2007. The rate will double to 6.8 percent on July 1 if Congress fails to act.

Congressional failure would double interest rates for over 255,000 Iowa students in the coming academic year. The average Iowa student would pay $993 more in student loans. We can't afford to see interest rates double when our students carry the third-highest debt load in the country.

The Iowa House Republicans' education budget only makes the problem worse. Last month, they approved budget cuts of $31 million for public universities. That's $385 per student. All amendments to restore tuition aid or work-study positions were rejected on party-line votes.

Gov. Branstad's proposed budget for community colleges was $6 million less than last year. The governor's budget cut $2 million in tuition assistance for Iowa students in vocational programs and $5 million in equipment purchases that allow Iowa students to learn the skills they need to enter industries such as advanced manufacturing.

We need a leader like President Obama who knows that access to a quality education benefits students and keeps America competitive in the global economy. The president has:

l Doubled the number of work-study jobs available to students on campuses across the country.

l Created a tuition tax break that gives families with students in college $2,500 a year to help them deal with high costs.

l Doubled our investment in Pell Grants so an additional 3.7 million students would receive college scholarship aid to access and afford college.

l Created the American Opportunity Tax Credit worth up to $10,000 over four years of college, helping middle-class families send a child to college.

l Capped student loan payments at 10 percent of monthly income, which as soon as this year will help 1.6 million students manage their monthly payments and pursue the career of their dreams.

While the president is leading through action, his likely opponent in the November election, Mitt Romney, supports the U.S. House Republican budget, which could cause more than 10,400 Iowa students to lose Pell Grants and 8,400 Iowans to lose federal work study aid. This could cost the average student nearly $1,000 per year and eliminate work-study opportunities for nearly 130,000 students.

Just last week, Romney privately told his

donors he plans to get rid of most of the Department of Education, putting at risk critical student aid programs that millions of Americans use to send their children to college. This continues a pattern from when he was governor of Massachusetts.

This election has huge consequences for every Iowa student and parent. The president has made the right choices for America's students - he'll have my vote in November.

Tyler Olson of Cedar Rapids is serving his third term in the Iowa House of Representatives, representing House District 38. Comments: tyler.olson@legis.state.ia.us